Text: H01586 Text: H01588 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 708 as follows:
1 2 #1. Page 16, by inserting after line 28 the
1 3 following:
1 4 "Sec. . OUTSTANDING BLUFFLANDS PROTECTION
1 5 LOANS. The principal and interest from any blufflands
1 6 protection loans outstanding on July 1, 2017, and
1 7 payable to the blufflands protection revolving fund,
1 8 shall be paid to the administrative director of the
1 9 division of soil conservation on or after July 1,
1 10 2017, pursuant to the terms of the loan agreement and
1 11 shall be credited to the general fund of the state."
1 12 #2. Page 18, by inserting after line 23 the
1 13 following:
1 14 "Sec. . Section 99F.11, subsection 4, Code
1 15 1997, is amended to read as follows:
1 16 4. The remaining amount of the adjusted gross
1 17 receipts tax shall be credited to the general fund of
1 18 the state. However, of the remaining amount of
1 19 adjusted gross receipts tax available under this
1 20 subsection, and notwithstanding provisions to the
1 21 contrary in section 8.57, for the fiscal period
1 22 beginning July 1, 1997, and ending June 30, 2017, the
1 23 first one million dollars collected each fiscal year
1 24 shall be credited to the blufflands protection
1 25 revolving fund.
1 26 Sec. . NEW SECTION. 161A.80 BLUFFLANDS
1 27 PROTECTION PROGRAM – REVOLVING FUND.
1 28 1. As used in this section, unless the context
1 29 otherwise requires:
1 30 a. "Bluffland" means a cliff, headland, or hill
1 31 with a broad steep face along the channel or
1 32 floodplain of a river and its tributaries.
1 33 b. "Conservation organization" means a nonprofit
1 34 corporation incorporated in Iowa or an entity
1 35 organized and operated primarily to enhance and
1 36 protect natural resources in this state.
1 37 2. A blufflands protection revolving fund is
1 38 created in the state treasury. The proceeds of the
1 39 revolving fund are appropriated to make loans to
1 40 conservation organizations which agree to purchase
1 41 conservation easements on blufflands along the
1 42 Mississippi river or to purchase blufflands along the
1 43 Mississippi river for resale with restrictive
1 44 covenants attached to the property. The
1 45 administrative director of the division of soil
1 46 conservation shall administer the revolving fund.
1 47 Notwithstanding section 12C.7, interest or earnings on
1 48 investments made pursuant to this section or as
1 49 provided in section 12B.10 shall be credited to the
1 50 blufflands protection revolving fund. Notwithstanding
2 1 section 8.33, unobligated or unencumbered funds
2 2 credited to the blufflands protection revolving fund
2 3 shall not revert at the close of a fiscal year.
2 4 However, the maximum balance in the blufflands
2 5 protection fund shall not exceed two million five
2 6 hundred thousand dollars. Any funds in excess of two
2 7 million five hundred thousand dollars shall be
2 8 credited to the general fund of the state.
2 9 3. The administrative director of the division
2 10 shall establish a blufflands protection program to
2 11 demonstrate creative land protection techniques and
2 12 encourage private landowners to protect the natural
2 13 beauty of the blufflands along the Mississippi river.
2 14 The commissioners of each soil and water conservation
2 15 district which has a boundary which is coterminous
2 16 with the Mississippi river shall cooperate with and
2 17 assist the director in administering the blufflands
2 18 protection program within their respective districts.
2 19 The director shall provide, by rule, for a uniform
2 20 application form, the content of the form, provisions
2 21 for a loan agreement model conservation easement and
2 22 restrictive covenant requirements for blufflands, and
2 23 minimum qualifications of conservation organizations
2 24 which are eligible to participate in the blufflands
2 25 protection program. The administrative director shall
2 26 specify the eligible purposes for which a loan
2 27 authorized under this section can be expended
2 28 including, but not limited to, the purchase of
2 29 blufflands, the acquisition of conservation easements
2 30 on blufflands, the establishment of landowner
2 31 associations, payment for loss of land value due to
2 32 restrictive covenants, and payment for administrative
2 33 and legal costs.
2 34 4. An applicant for a loan from the blufflands
2 35 protection revolving fund shall apply to the soil and
2 36 water conservation district of the county in which the
2 37 bluffland is located. The application shall be on
2 38 forms prepared by the division and shall include the
2 39 information required by rule of the division. Each
2 40 conservation organization which applies for a loan
2 41 under this section shall demonstrate its financial
2 42 capability to qualify for a loan to the commissioners
2 43 and its commitment to natural resource protection and
2 44 appropriate development. If there is a loss of value
2 45 of a blufflands protection project funded under this
2 46 section resulting from restrictive covenants, the
2 47 conservation organization shall be forgiven seventy-
2 48 five percent of the amount of the loss not exceeding
2 49 the amount of the loan. If a loan is used to purchase
2 50 a conservation easement on a blufflands protection
3 1 project, the conservation organization shall be
3 2 forgiven seventy-five percent of the loan. The
3 3 application shall be reviewed and feasibility of the
3 4 proposed project shall be investigated by the
3 5 commissioners of the district and its report and
3 6 recommendation shall be sent to the administrative
3 7 director and the committee for approval.
3 8 5. Except as otherwise provided in this
3 9 subsection, each loan made under this section shall be
3 10 for a period not to exceed five years, shall bear no
3 11 interest for the first year, and shall be repayable to
3 12 the blufflands protection revolving fund. After the
3 13 first year and for each subsequent year that the
3 14 principal remains unpaid, interest shall be charged
3 15 against any unpaid balance of the loan. The interest
3 16 rate shall be set at the prevailing market rate for
3 17 similar real estate in the county as determined by the
3 18 director. All interest payments shall be credited to
3 19 the blufflands protection revolving fund. Each loan
3 20 shall be repaid as provided in the loan agreement.
3 21 However, interest on the principal of a loan shall be
3 22 due and payable thirty days after the conclusion of
3 23 the second year and each subsequent year that the
3 24 principal or a part of the principal remains unpaid.
3 25 A loan may be extended annually beyond the original
3 26 five years with the approval of the district
3 27 commissioners and the administrative director.
3 28 6. The administrative director may:
3 29 a. Contract, sue and be sued, and adopt
3 30 administrative rules pursuant to chapter 17A and
3 31 approved by the committee, necessary to carry out this
3 32 section, but the administrative director, the
3 33 committee, or the district commissioners shall not
3 34 directly or indirectly pledge the credit of the state
3 35 of Iowa.
3 36 b. Authorize payment from the blufflands
3 37 protection revolving fund from moneys received under
3 38 section 99F.11, subsection 4, and from any income
3 39 received by investments of any money in the fund for
3 40 costs, commissions, attorney fees, and other
3 41 reasonable expenses related to and necessary for the
3 42 making and protecting of direct loans under this
3 43 section, and for recovery of moneys loaned or the
3 44 management of property acquired in connection with the
3 45 loans.
3 46 7. This section is repealed on July 1, 2017.
3 47
3 48
3 49
3 50 WITT of Black Hawk
4 1 HF 708.311 77
4 2 da/cf/28
Text: H01586 Text: H01588 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
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